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This paper examines how risk in trading activity can affect the volatility of asset prices. We look for this relationship in the behavior of interest rate swap spreads and in the volume and interest rates of repurchase contracts. Specifically, we focus on convergence trading, in which...
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We investigate how college students form and update their beliefs about future earnings using a unique “information” experiment. We provide college students true information about the population distribution of earnings and observe how this information causes respondents to update their...
Persistent link: https://www.econbiz.de/10009320708
episodes of increased inflation uncertainty, our results suggest that these contracts are flexible both ex ante and ex post to …
Persistent link: https://www.econbiz.de/10009358584
, rational herding arises because of information-event uncertainty. We estimate the model using 1995 stock market data for …
Persistent link: https://www.econbiz.de/10010552106
Remarks at the Economic Club of New York, New York City.
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Testimony before the U.S. Senate Committee on Banking, Housing and Urban Affairs, Washington, D.C.
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